Changes to the method of paying Stamp Duty

In April 2017, the Revenue Department issued Notification of the Director-General of Revenue on Stamp Duty No. 56, which expands the scope of instruments for which duty must be paid in cash instead of by affixing stamps.

Keywords: Mazars, Thailand, Tax, Revenue Department, Stamp Duty, Payment, POA

30 June 2017

Set below are the additional instruments for which stamp duty can no longer be paid by affixing stamps, but which must be paid in cash instead:

1. A power of attorney (POA) that authorizes one or more persons to perform an act only once (item 7 of Stamp Duty Schedule under the Thai Revenue Code)

This law shall apply only to a POA made under the following circumstances:

(a) the appointer empowers the appointee to register a legal entity (company or partnership), or to request or amend a username and password in the system for registering the legal entity through the Internet (e-registration), and to identify the user of such a system;

(b) the POA is made on the date that the application for registration of the legal entity is submitted to a registrar, or 15 days or less before such an application is submitted; and

(c) no stamp duty on that POA had been paid, whether in whole or in part. 

2. The Memorandum of Association of a limited company that is submitted to the registrar (item 24 of Stamp Duty Schedule under the Thai Revenue Code).

3. The Articles of Association of a limited company that is submitted to the registrar (item 25 of Stamp Duty Schedule under the Thai Revenue Code).

4. New Articles of Association, or a copy of the amended Memorandum of Association or Articles of Association, that are submitted to the registrar (item 26 of Stamp Duty Schedule under the Thai Revenue Code). 

5. An amendment of a contract for the organization of a partnership (item 27 of Stamp Duty Schedule under the Thai Revenue Code) that is made on the date that the application for registration of the partnership is submitted to a registrar, or 15 days or less before such an application is submitted, and the stamp duty has not been paid, whether in whole or in part.

This law shall apply to an instrument executed on 1 August 2017 onward. However, if the instrument is executed electronically, the law shall apply to an instrument executed on 18 April 2017 onward.

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